CR: EVs Offer Big Savings ...

Discussion in 'EV (Electric Vehicle) Discussion' started by bwilson4web, Dec 22, 2020.

  1. bwilson4web

    bwilson4web BMW i3 and Model 3

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    I am not a fan of Consumer Reports as they often publish nonsense. Regardless, behind a pay-wall:
    EVs Offer Big Savings Over Traditional Gas-Powered Cars - Consumer Reports

    When comparing vehicles of similar size and from the same segment, an EV can cost anywhere from 10 percent to over 40 percent more than a similar gasoline-only model, according to CR’s analysis. The typical total ownership savings over the life of most EVs ranges from $6,000 to $10,000, CR found. The exact margin of savings would depend on the price difference between the gas-powered and EV models that are being compared.

    For lower-priced models, the savings on ownership costs over the lifetime of the vehicle (200,000 miles) usually exceed the extra money paid for a comparable EV. For example, a Chevrolet Bolt costs $8,000 more to purchase than a Hyundai Elantra GT, but the Bolt costs $15,000 less to operate over a 200,000-mile lifetime, for a savings of $7,000, our study found. In the luxury segment, operating cost savings are often aided by a tighter price differential. The Tesla Model 3 is priced lower than the gas-powered BMW 330i, and priced only about $2,000 more than an Audi A4. But the savings on operating costs for the Model 3 are about $17,000 when compared with either of the popular German gas-powered sedans.

    Fuel savings: The study shows that a typical EV owner who does most of their fueling at home can expect to save an average of $800 to $1,000 a year on fueling costs over an equivalent gasoline-powered car.

    Maintenance and repair: The study also found that maintenance and repair costs for EVs are significantly lower over the life of the vehicle—about half—than for gasoline-powered vehicles, which require regular fluid changes and are more mechanically complex. The average dollar savings over the lifetime of the vehicle is about $4,600.

    Depreciation: CR’s analysts also found that newer long-range EVs are holding their value as well as or better than their traditional gasoline-powered counterparts as most new models now can be relied on to travel more than 200 miles on a single full charge. As with traditional gasoline-powered vehicles, not all EVs will lose value at the same rate as they age. Class, features, and the reputation of the vehicle’s manufacturer all have an impact on depreciation.

    This article represents the bipolar nature of Consumer Reports. They are either hard anti- or then report facts and data showing their earlier reports were BS.

    Bob Wilson
     
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